Silver Hammer Mining Corp. (CSE: HAMR; OTCQB: HAMRF) (the "Company" or "Silver Hammer" ) is pleased to announce plans to begin an 11-hole Phase II diamond drill program from the Company's established underground drilling station, before the end of July at its past-producing Silver Strand Project in Idaho.
The Phase II drill program will focus on expanding the known silver-gold zone down-dip and will also assess the potential for additional mineralized chutes (Figure 1). Targets for this program are based on exploration work performed by Silver Hammer in 2021, including a drone supported magnetic survey, Phase I drilling, as well integration of drilling data acquired from previous owners of the Silver Strand Project ( see Jan 26, 2022 news release ).
"This Phase II drill program will build upon results of the Phase I program completed late 2021, which confirmed that silver and gold-bearing sulphide mineralization extends beneath the historic mine workings," stated President & CEO Morgan Lekstrom. "As with Phase I, we will utilize an existing underground drift and drilling bay, which we rehabilitated last year, to begin to test the depth extent of the known mineralized body as well as to test for additional mineralized chutes in a very cost-effective manner."
Figure 1. Planned Phase II Drilling at Silver Strand https://www.globenewswire.com/NewsRoom/AttachmentNg/5802a1ae-217e-4cfc-8b3e-f1458c9f861a
The Company has signed a contract with Nasco Industrial Services and Supply, which will use HQ, 3.5-inch diameter drill core to obtain good core recovery and relatively large core samples for reliable assays.
Silver Hammer is also progressing exploration of the Eliza Project in Nevada with a detailed follow-up soil grid sampling program, the results of which are expected in late July.
Technical aspects of this press release have been reviewed and approved by Philip Mulholland, a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists, a contractor of the Company and the designated Qualified Person (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects .
About Silver Hammer Mining Corp.
Silver Hammer Mining Corp. is a junior resource company advancing the flagship past-producing Silver Strand Mine in the Coeur d'Alene Mining District in Idaho, USA, as well both the Eliza Silver Project and the Silverton Silver Mine in one of the world's most prolific mining jurisdictions in Nevada and the Lacy Gold Project in British Columbia, Canada. Silver Hammer's primary focus is defining and developing silver deposits near past-producing mines that have not been adequately tested. The Company's portfolio also provides exposure to copper and gold discoveries.
Disclaimer note: Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's projects.
On Behalf of the Board of Silver Hammer Mining Corp.
Morgan Lekstrom, President and CEO
Corporate Office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada
For investor relations inquiries, contact:
Kristina Pillon, High Tide Consulting Corp. T: 604.908.1695 E: investors@silverhammermining.com
Adam Bello, Primoris Group Inc. T: 416.489.0092 E: media@primorisgroup.com
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
News Provided by GlobeNewswire via QuoteMedia
Silver demand comes from a variety of different markets. Aside from jewelry, the precious metal leverages exposure in electrical, thermal, and many industrial spaces. With such usage versatility, especially in a growing electrified world, investors can expect silver demand to only grow.
A hotspot for silver mining on many radars is Coeur d’Alene Mining District in Idaho, USA. This region stands as one of the most productive mining districts in Idaho for silver and lead ore production. With over 1.2 billion ounces of silver production under its belt and more to be discovered, mining in this prolific region could mean exceptional economic upside for many competing silver players.
Silver Hammer Mining (CSE:HAMR, OTC:HAMRF) is a company focused on adding value for shareholders by growing a portfolio of silver assets located in some of the most prolific silver districts in North America that have significant discovery, scale and near term production potential.
Its growing asset portfolio includes the past-producing Silver Strand and Burnt Cabin mines located in the renowned Coeur d’Alene mining district in Idaho, the Eliza Silver project and past-producing Silverton Silver Mine located in Nevada, and the early-stage Lacy gold-silver project in British Columbia.
The flagship Silver Strand project comprises 70 claims over a 5.5 kilometers strike length atop a silver belt in the Coeur d’Alene mining district in Idaho. The district has produced over 1.2 billion ounces of silver and hosts some of the world’s largest silver mines. Silver Strand remains relatively underexplored and presents Silver Hammer Mining a tremendous opportunity for silver discovery at depth and laterally along strike.
In August 2021, the company reported high-grade surface samples including 11.79g/t gold and 255g/t silver to further extend the mineralized trend at Silver Strand. “We are very excited with these results which confirm widespread alteration and gold-silver mineralization throughout the property and along the 5.5 km strike,” commented Silver Hammer Mining Resources president Morgan Lekstrom.
Silver Hammer Mining’s Eliza Silver project, located within one of the world’s most productive silver districts, could be the missing half of the Hamilton deposit. The Silver Hammer Mining team plans to deploy a new geologic model, which will explore the down-thrown side of the Eberhardt Fault, which separates the Hamilton District from the Eliza Property.
The Silverton Silver Mine is located in East Nevada’s “Silver Alley”, a jurisdiction containing numerous large deposits including the 174 Moz Tonopah silver project and the Tybo project, which produced 100 Moz AgEq. The Silverton Silver mine is a proven producer of reported grades in the 1930s ranged up to 30 oz/t (933 g/t) Ag. Silverton has untapped exploration potential with a sizeable, untested extent of mineralization around the mine reported in the 1980s.
The Lacy gold-silver project consists of three non-surveyed contiguous mineral claims totalling 590.08 hectares located within the Nanaimo and Alberni mining divisions of British Columbia. Acquired in 2017, the property is subject’s Silver Hammer Mining to a payment agreement of two percent net smelter royalty to Barrie Field-Dyte. The company has been quick to begin exploring this highly prospective asset since its acquisition.
The company will commence an initial 2700 metre drill program at Silver Strand toward the end of summer. Silver Hammer Mining expects to commence drilling at Silver Strand toward the end of Summer 2021, with airborne geophysical surveying using modern drone technology as well.
Silver Hammer Mining has a world-class management team with collective decades of experience in exploration, mine development and capital markets. Its exploration is headed by Lawrence Roulston, an expert in mining, resource opportunities and business advisory. Together, this results-driven leadership primes the company for exceptional silver and precious metal discovery and economic success across its robust portfolio of assets.
The Silver Strand mine comprises 70 claims over a 5.5 kilometers strike length along the Revett formation, a silver belt within the renowned Coeur d’Alene mining district in Idaho. The Silver Valley leverages a rich century-long history of successful silver mining and past-producing mines that have been underexplored.
The project presents exceptional exploration opportunities with a limited mining history that suggests the potential for mineralization at greater depths. Recent rock chip sampling revealed grab samples highlighting values of 1,669g/t silver and 9.77g/t gold from the shrink stope above the number 3 level. Other grab samples demonstrated high-grade mineralization hovering 255g/t silver and 1.27g/t gold.
Silver Hammer Mining has an aggressive exploration program underway, which includes surveying, sampling and 3D modelling. In 2021, the company plans to commence a 14 hole, 2,700-meter drill program and ground geophysics campaign along strike between the Silver Strand and Burnt Cabin mine sites.
The Eliza Silver Project is located along strike of the Hamilton Mining District, Nevada’s highest-grade silver district, which produced 40 million (M) ounces (oz) silver with grades up to 25,000 grams per tonne (g/t) between 1876-1890.
Surface samples collected at the nearby California Mine grading 24,956 g/t silver (Ag)* and information gained from a detailed geologic map, indicate that Eliza and the Hamilton District contain high-grade Ag mineralization hosted by the same formation; however, no significant work or drilling has been done on the project in over half a century.
The Silver Hammer Mining team plans to deploy a new geologic model, which will explore the down-thrown side of the Eberhardt Fault, which separates the Hamilton District from the Eliza Property. The California Mine, which mined ore grading between 5,621 to 18,737 g/t silver equivalent (AgEq)* in the 1870s is also located south of the Eberhardt Fault, indicating that very high-grade mineralization can be found within the Eliza fault block.
The past-producing Silverton Silver Mine is located in East Nevada’s “Silver Alley” with high-grade historic production of up to 933 g/t silver. Despite significant surface exposures and grab samples grading up to 499 g/t Ag and 1.99 g/t Au, no modern-day drilling or subsurface exploration techniques have been conducted on the project since the 1920s. The first modern work is currently underway, including satellite imaging which has shown similar colour anomalies to Kinross’ 15M oz Au Round Mountain mine (see Figure 1).
Figure 1. Longwave infrared Aster image of central Nevada, showing same thermal response as Round Mountain mine (left) and Silverton project area (right).
Numerous large deposits are located in the “Silver Alley,” including the 174 Moz Tonopah silver project and the Tybo project, which produced 100 Moz AgEq (see Figure 2).
Figure 2: Silverton area map including other mines in the area
“The geology of the Eliza project suggests that it could be a down-dropped extension of the 40 Moz Hamilton Silver project,” stated President, Morgan Lekstrom. “The addition of Eliza and Silverton, two highly prospective silver projects in two of the most prolific silver districts in the USA, complement our growing portfolio of western US focused silver assets, which includes the past producing Silver Strand mine in Idaho. The acquisition of these projects reaffirms our strategy of adding shareholder value by acquiring silver assets that have both large exploration upside and near-term production potential.”
The Lacy property consists of three non-surveyed contiguous mineral claims totalling 590.08 hectares located within the Nanaimo and Alberni mining divisions of British Columbia. The asset boasts elevated gold and silver values associated with late-stage (fracture & fault infilling) quartz-carbonate-sulphide veins and breccia.
Historic sampling by Lode Resource Corp in 1987 revealed 14.9 g/t gold from rock samples of massive and semi-massive pyrite from the main showing located in the southwest portion of the property. Other historic sample highlights include values of 64ppm copper, 6ppm lead, 32ppm zinc and 0.9g/t silver.
The most prominent gold and silver occurrences at Lacy are exposed along the abandoned CPR railway track where elevated gold and silver values are associated with pyrite and trace chalcopyrite, malachite mineralization. Silver Hammer Mining remains excited to continue exploring this prospective property.
Morgan Lekstrom has 14 years of mining experience in progressively senior roles in project operations and engineering management and has a strong leadership background with experience overseeing over 100 person teams onsite. In a recent role, Lekstrom served as engineering manager responsible for the budgeting, scheduling and the first phases of execution at Sabina Gold and Silver’s Back River Marine Laydown project. Prior, he spent two years in Ghana, West Africa where he played an integral role in the development and revival of Golden Star Resources’ Prestea underground mine. He led project, engineering and maintenance teams and worked with members of the executive team on the implementation of various strategic initiatives.
A graduate of Thompson Rivers University, Lekstrom has an established track record delivering successes across numerous projects worldwide.
Alnesh Mohan is a finance executive with over 20 years of experience providing advisory services to a wide array of clients. He has been a partner at Quantum Advisory Partners LLP, a professional services firm focused on providing CFO and full-cycle accounting services to private and public companies since 2005. Acting on behalf of several public companies, Mohan has acquired considerable experience in financial reporting, corporate governance and regulatory compliance.
Mohan holds a Bachelor of Business Administration from Simon Fraser University, a Master’s of Science in Taxation from Golden Gate University and is a Chartered Professional Accountant (CPA, CA).
Phil Mulholland brings over 35 years of geological experience from mining projects in the western United States, Canada, Argentina, Chile, Guyana and Tanzania. He has worked extensively in Montana and Idaho working on a range of precious metals projects. His diverse background includes exploration, development and production, including both underground and open-pit projects, with an array of minerals and mines.
Mulholland has held senior-level positions in the region, including principal mine geologist or chief geologist, at Kinross’ Kettle River Buckhorn gold project, the Butte Highlands joint venture and Barrick’s Golden Sunlight mine. Since 2003, his primary focus has been transitioning late-stage exploration projects through development and into production.
Lawrence Roulston is a mining professional with over 35 years of diverse hands-on experience. He recently founded WestBay Capital Advisors, providing business advisory and capital markets expertise to the junior and mid-tier sectors of the mining industry. From 2014 to 2016, he was president of Quintana Resources Capital, which provided resource advisory services for US private investors, focused primarily on streaming transactions. Before Quintana, he was a mining analyst and consultant and the editor of “Resource Opportunities”, an independent investment publication focused on the mining industry. Prior, Roulston was an analyst or executive with various companies in the resources industry, both majors and juniors.
Mr. Roulston has nearly 40 years of diverse hands-on experience in the mining industry and currently serves as a director of several other companies listed on the TSX Venture Exchange and the New York Stock Exchange.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
CSE: HAMROTCQB: HAMRF) Silver Hammer Mining Corp. (the " Company " or " Silver Hammer ") is pleased to announce its intention to complete a brokered private placement on a commercially reasonable efforts basis for gross proceeds of up to approximately C$3,000,000 (the " Offering "). The Offering will be led by Echelon Wealth Partners Inc. as lead agent and sole bookrunner (the " Agent ").
The Company will grant the Agent an option to increase the size of the Offering by up to 15% of the Units sold under the Offering exercisable, in whole or in part, by the Agent upon written notice to the Company at any time up to 48 hours prior to the final closing date of the Offering.
The Offering will consist of up to 7,894,800 units of the Company (each, a " Unit ", and collectively the " Units ") at a price of C$0.38 per Unit (the " Offering Price "). Each Unit consists of one Common Share (each, a " Common Share ", and collectively the " Common Shares ") and one-half of one Common Share purchase warrant (each whole warrant, a " Warrant " and collectively the " Warrants "). Each Warrant entitles the holder thereof to acquire one Common Share at a price of C$0.50 per Common Share for a period of 24 months from the closing date of the Offering. The Company will apply to list the Common Shares (including the Common Shares underlying the Warrants and the broker warrants (as described below)) on the Canadian Securities Exchange (" CSE ") upon closing of the Offering.
The net proceeds of the Offering will be used for the exploration of the Silver Strand Project in Idaho, the Eliza Silver Project in Nevada, the Silverton Silver-Gold Project in Nevada, and for general and working capital purposes.
The Company will pay a cash commission to the Agent equal to 8.0% of the aggregate gross proceeds of the Offering (4.0% from the sale of Units to purchasers identified on the Company's president's list) and will issue broker warrants equal to 8.0% of the number of Units sold under the Offering (4.0% of the number of Units from the sale of Units to purchasers identified on the Company's president's list), each exercisable to acquire one Common Share at $0.38 for a period of 24 months from the closing date of the Offering.
Closing of the Offering is expected to occur on or about June 2, 2022.
The Units will be offered and sold by private placement in Canada to "accredited investors" within the meaning of National Instrument 45-106 – Prospectus Exemptions and other exempt purchasers in each province of Canada and may be sold outside of Canada on a basis which does not require the qualification or registration of any of the Common Shares or the Warrants comprising the Units in the subscriber's jurisdiction. The Company may also concurrently offer and sell Units outside of Canada on a non-brokered, unregistered private placement basis to a limited number of "accredited investors" (as defined in Regulation D under the United States Securities Act of 1933, as amended (the "U.S. Securities Act")) with whom the Company has substantive pre-existing relationships, in reliance on exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws or in other jurisdictions where permitted by law. The securities issued in the Offering will be subject to applicable hold periods imposed under applicable securities legislation, including a hold period of 4 months and one day from the date of issuance (the " Hold Period "). This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or "U.S. Persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
About Silver Hammer Mining Corp.
Silver Hammer Mining Corp. is a junior resource company advancing the flagship past-producing Silver Strand Mine in the Coeur d'Alene Mining District in Idaho, USA, as well both the Eliza Silver Project and the Silverton Silver Mine in one of the world's most prolific mining jurisdictions in Nevada and the Lacy Gold Project in British Columbia, Canada. Silver Hammer's primary focus is defining and developing silver deposits near past-producing mines that have not been adequately tested. The Company's portfolio also provides exposure to copper and gold discoveries
This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements may include, without limitation, statements relating to the Offering and the use of proceeds therefrom. The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. All forward-looking statements in this press release are made as of the date of this press release. The forward-looking statements contained herein are also subject generally to assumptions and risks and uncertainties that are described from time to time in the Company's public securities filings with the Canadian securities commissions, including the Company's short form prospectus. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
On Behalf of the Board of Silver Hammer Mining Corp.
Morgan Lekstrom, President and CEO Corporate Office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada
For further information contact: Kristina Pillon, President, High Tide Consulting Corp. T: 604.908.1695 E: investors@silverhammermining.com
For media inquiries, contact: Adam Bello, Primoris Group Inc. T: 416.489.0092 E: media@primorisgroup.com
The CSE does not accept responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.
News Provided by GlobeNewswire via QuoteMedia
Silver Hammer Mining Corp. (CSE: HAMROTCQB:HAMRF) ("Silver Hammer" or the "Company") is pleased to report high-grade silver assay results obtained during an early phase of exploration at the Company's Eliza Project ("Eliza" or the "Project") in Nevada, plus the acquisition of the California Patent ("the Patent"), a strategic claim within the Project area.
Silver Hammer recently completed the purchase of the strategic California Mine Patent claim, which is located entirely within the Eliza Project claim block. The Patent covers an area of 4.6 acres and includes the past-producing California Mine ( Figure 1 ).
Figure 1. Eliza Property Map, Including Newly Acquired California Patent Claim
https://www.globenewswire.com/NewsRoom/AttachmentNg/9a6873fd-55a6-4ac7-9d2c-63b2a8908d10
A spring sampling program collected a total of 25 rock chip and grab samples from sites in the northern sector of Eliza, which includes the newly acquired California Mine area. Analytical results derived from these samples confirm the existence of high-grade silver ("Ag") mineralization, and the presence of significant concentrations of copper ("Cu"), lead ("Pb") and zinc ("Zn") associated with the silver.
See Table 1 for additional results.
"Although we are in the early days of exploring Eliza, these high-grade samples provide further evidence that the Project, including the newly acquired California Patent, is an exciting and high potential area," stated President & CEO Morgan Lekstrom. "Our exploration work continues to demonstrate the existence of high-grade silver mineralization in a historic mining district that has seen limited modern exploration work. An especially interesting aspect of the results from this recent round of sampling is the presence of high-grade copper, lead and zinc, in addition to the silver. This particular suite of metals is characteristic of vein and replacement-style mineral deposits commonly found peripheral to porphyry copper deposits. Given the recent sampling results, the potential for porphyry-related mineralization will be assessed by our geologists as we further investigate the known silver prospects and potential."
Table 1: Notable Results from the Spring Sampling Program at Eliza
https://www.globenewswire.com/NewsRoom/AttachmentNg/4cc37fae-9ae8-44e6-869b-8a48ef2bb77d
Ongoing field work at Eliza includes soil sampling and geological mapping. A program of geophysical surveying is planned to commence in Q2-Q3, 2022. Results of the geochemical and geophysical surveys will be used to define priority drill targets ahead of an initial phase of drilling at the Project.
The geological setting at Eliza is similar to that of other mines in the area. District-scale folding of Middle Paleozoic limestone and shale formations appears to have formed open-space fault and fracture zones which channeled mineralizing fluids through chemically receptive host rocks, specifically the Devonian Guillmette and Joana Limestone formations.
The spring sampling program done at and around the historic mines found on the Eliza Project has shown that the replacement-style mineralized zones in limestone exist along axial planar faults and fracture zones and commonly weather into resistant ridges.
The assay results from the sampling program confirm observations made in the field: limestone and dolomite micro-breccia replacement zones show strong to very strong enrichments in Ag, arsenic ("As"), barium ("Ba"), Cu, manganese ("Mn"), Pb and Zn. Notable results are shown in Table 1 and Figure 1.
Technical aspects of this press release have been reviewed and approved by Philip Mulholland, a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists, a contractor of the Company and the designated Qualified Person (QP) under National Instrument 43-101.
Quality Assurance, Quality Control Sample Security
The following measures were taken to ensure sample security: samples were submitted to AAS American Analytical Services; only authorized personnel attended the samples; samples were collected and recorded by Silver Hammer geologists and then shipped to the AAS lab in Osburn, Idaho.
All samples were analyzed by AAS using conventional assay methods involving fire assaying of 50-gram charges of pulverized sample material for gold and silver, with Fire Assay ICP Finish (FA-ICP); AND ICP-35 Element Scan (M-ICP-35).
Internal review of sampling techniques, data, and results by the Company's geologist's and management was routinely done through the course of the project.
For quality assurance/quality control purposes, the batches of samples sent to AAS for assaying and ICP analyses were regularly infused with ‘duplicate', and ‘blank' samples. The ‘duplicates' were created during sample preparation at AAS. The laboratory also provided analytical results for their own reference samples for further QA/QC check.
Disclaimer note: Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's projects.
About Silver Hammer Mining Corp.
Silver Hammer Mining Corp. is a junior resource company advancing the flagship past-producing Silver Strand Mine in the Coeur d'Alene Mining District in Idaho, USA, as well both the Eliza Silver Project and the Silverton Silver Mine in one of the world's most prolific mining jurisdictions in Nevada and the Lacy Gold Project in British Columbia, Canada. Silver Hammer's primary focus is defining and developing silver deposits near past-producing mines that have not been adequately tested. The Company's portfolio also provides exposure to copper and gold discoveries.
On Behalf of the Board of Silver Hammer Mining Corp. Morgan Lekstrom, President and CEO Corporate Office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada
For investor relations inquiries, contact: Kristina Pillon, High Tide Consulting Corp. T: 604.908.1695 E: investors@silverhammermining.com
For media inquiries, contact: Adam Bello, Primoris Group Inc. T: 416.489.0092 E: media@primorisgroup.com
The CSE does not accept responsibility for the adequacy or accuracy of this release.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.
News Provided by GlobeNewswire via QuoteMedia
FireFox Gold Corp. ("FireFox" or the "Company") announces, effective July 7, 2022 that, subject to regulatory acceptance, it has completed the second and final tranche of the non-brokered private placement (the "Private Placement") announced on June 14th, 2022. In completing the second tranche, FireFox has increased the total gross proceeds of the Private Placement to $502,010
In this final tranche, the Company has raised gross proceeds of $50,000 by issuing 357,143 units of the Company at a purchase price of $0.14 per unit. Each unit consists of one common share of the Company and one common share purchase warrant, with each whole warrant being exercisable to acquire one additional common share of the Company at an exercise price of $0.21 per share for a term of two years from the date of issuance. The Shares issued pursuant to the Private Placement will be subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.
The Company intends to use the proceeds of the Private Placement for general corporate purposes, working capital and exploration activities on FireFox's gold exploration properties in Finland.
FireFox will pay to qualified finders $2,520 in cash finders fees and will issue 15,000 finders warrants exercisable at $0.21 for 2 years from the date of issuance in association with the first tranche of the Private Placement.
FireFox Gold Corp is listed on the TSX Venture Stock Exchange under the ticker symbol FFOX. FireFox also trades on the OTCQB Venture Market Exchange in the US under the ticker symbol FFOXF. The Company has been exploring for gold in Finland since 2017 where it holds a huge portfolio of prospective ground.
Finland is one of the top mining investment jurisdictions in the world as indicated by its multiple top-10 rankings in recent Fraser Institute Surveys of Mining Companies. Having a strong mining law and long mining tradition, Finland remains underexplored for gold. Recent exploration results in the country have highlighted its prospectivity, and FireFox is proud to have a Finland based CEO and technical team.
For more information, please refer to the Company's website and profile on the SEDAR website at www.sedar.com.
On behalf of the Board of Directors,
"Carl Löfberg" Chief Executive Officer
FireFox Gold Corp. Email: carl@firefoxgold.com Telephone: 778-938-1994
The information herein contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, the extent of work stoppage and economic impacts that may result from the COVID 19 virus, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry.
Forward-looking statements in this release may include statements regarding: the expected total financing amounts, terms, and timeframe; and the current and future work program, including the extent and nature of exploration to be conducted in 2020. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary. The forward-looking statements contained herein represent the expectations of FireFox as of the date of dissemination and, accordingly, are subject to change after such date. Readers should not place undue importance on forward-looking statements and should not rely upon this information as of any other date. FireFox does not undertake to update this information at any particular time except as required in accordance with applicable laws.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.
News Provided by ACCESSWIRE via QuoteMedia
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES ./
SKRR Exploration Inc. (" SKRR " or the " Company ") (TSXV: SKRR) (OTC: SKKRF) (FSE: B04Q) is pleased to announce that it has closed a non-brokered private placement (the " Private Placement ") for gross proceeds of $229,502 consisting of 2,991,700 flow-through units of the Company (each, a " FT Unit ") at a price of $0.06 per FT Unit and 909,091 units of the Company (each, a " Unit ") at a price of $0.055 per Unit.
Each FT Unit consists of one 'flow-through' common share (" FT Share ") and one transferable common share purchase warrant (" Warrants "). Each whole Warrant entitles the holder to purchase one common share of the Company at a price of $0.08 per share for a period of two (2) years following the date of issuance. Each FT Share is a "flow-through share" within the meaning of the Income Tax Act ( Canada ) (the " Act ").
Each Unit consists of one common share of the Company and one Warrant. Each Warrant entitles the holder thereof to purchase one common share of the Company at a price of $0.08 for a period of two (2) years from the date of issuance.
The proceeds from the Private Placement will be used for exploration expenditures on the Company's projects and for general corporate purposes and working capital.
All securities issued in connection with the Private Placement are subject to a four month hold period from the closing date in accordance with applicable securities laws and the policies of the TSX Venture Exchange. In connection with the Private Placement, the Company paid aggregate cash finder's fees of $12,250.14 and issued 64,169 non-transferable finder warrants that are exercisable for a period of two (2) years from the date of issuance at a price of $0.08 per share.
About SKRR Exploration Inc. : SKRR is a Canadian-based precious metal explorer with properties in British Columbia and Saskatchewan – some of the world's highest ranked mining jurisdictions. The primary exploration focus is on the Trans-Hudson Corridor in Saskatchewan in search of world class precious and base metal deposits. The Trans-Hudson Orogen – although extremely well known in geological terms has been significantly under-explored in Saskatchewan . SKRR is committed to all stakeholders including shareholders, all its partners and the environment in which it operates.
ON BEHALF OF THE BOARD
Sherman Dahl President & CEO Tel: 250-558-8340
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America . The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the " 1933 Act ") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
Cautionary Statement Regarding Forward Looking Information
This news release contains "forward‐looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, statements that address the Private Placement and the use of proceeds, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, the ability to secure equipment and personnel to carry out work programs, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, the interpretation of technical and scientific data, risks related to the inherent uncertainty of exploration and development and cost estimates and the potential for unexpected costs and expenses and including those filed under the Company's profile on SEDAR at www.sedar.com . There is a possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather or climate conditions, decrease in the price of nickel, gold and other metals, equipment failures or failure to obtain the necessary equipment, failure to maintain all necessary government permits, approvals and authorizations, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate, failure to maintain community acceptance (including First Nations), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
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NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
Snowline Gold Corp. (CSE:SGD) (US OTC:SNWGF) (the "Company" or "Snowline") is pleased to announce that it has arranged to issue, on a non-brokered private placement basis, (a) up to 7,000,000 flow-through common shares of the Company (the "FT Shares") at a price of C$1.40 per FT Share for gross proceeds of up to C$9,800,000 and (b) up to 12,342,293 units of the Company (the "Units") at a price of C$1.25 per Unit for gross proceeds of up to C$15,427,866.25. Each Unit is comprised of one common share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"), with each Warrant being exercisable for one common share of the Company at an exercise price of C$2.50 for a period of two years(the "Offering
The gross proceeds from the issue and sale of the FT Shares will be used to support advancement of exploration on the Company's Yukon Territory mineral properties, which will qualify as "Canadian Exploration Expenses" and "flow-through mining expenditures", as those terms are defined in the Income Tax Act (Canada), which will be renounced to the initial purchasers of the FT Shares with an effective date no later than December 31, 2022. The gross proceeds from the issue and sale of Units will be used to support advancement of exploration on the Company's Yukon Territory mineral properties and for general and working capital purposes.
It is expected that the closing of the Offering will occur in two tranches, the first tranche closing on or about July 22, 2022 and the second tranche closing on or about August 2, 2022 and closing is subject to the satisfaction of certain conditions, including receipt of acceptance of the Canadian Securities Exchange. All securities issued in connection with the Offering will be subject to a hold period of four months and one day from the date of closing, in accordance with applicable Canadian securities laws.
The securities issued under the Offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and were not to be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
Snowline Gold Corp. is a Yukon Territory focused gold exploration company with a seven-project portfolio covering >127,000 ha. The Company is exploring its flagship >85,000 ha Einarson and Rogue gold projects in the highly prospective yet underexplored Selwyn Basin. Snowline's project portfolio sits within the prolific Tintina Gold Province, host to multiple million-ounce-plus gold mines and deposits including Kinross' Fort Knox mine, Newmont's Coffee deposit, and Victoria Gold's Eagle Mine. The Company's first-mover land position and extensive database provide a unique opportunity for investors to be part of multiple discoveries and the creation of a new gold district.
ON BEHALF OF THE BOARD Scott Berdahl, MSc, MBA, PGeo CEO & Director
For further information, please contact:
Snowline Gold Corp. +1 778 650 5485 info@snowlinegold.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including statements regarding the anticipated use of proceeds from the Offering, the expected timing for closing the first and second tranches of the Offering and the Company's future plans and intentions. Wherever possible, words such as "may", "will", "should", "could", "expect", "plan", "intend", "anticipate", "believe", "estimate", "predict" or "potential" or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to management as at the date hereof. Forward-looking statements involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. Such factors include, among other things, risks associated with executing the Company's plans and intentions. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
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Includes 58.2 g/t Over 1.1 Metres
Toronto, Ontario TheNewswire - July 5, 2022 Canstar Resources Inc. (TSXV:ROX ) & ( OTC:CSRNF) (" Canstar" or the "Company ") is pleased to announce new assay results for diamond drilling at the Kendell prospect on its Golden Baie property in south-central Newfoundland. Drilling took place in February and March 2022 and consisted of 2,907 metres ("m") in 39 holes. Notable drill intercepts are provided in Table 1 and full results are in Table 2 at the end of this release.
Table 1 - Notable intercepts from the 2022 Kendell prospect winter drill program
All intersections are downhole length as there is insufficient information to calculate true width.
Reported grades have not been capped.
Matthieu Lapointe, Vice President of Exploration for Canstar, commented: "This was the Company's first winter drill program on the Golden Baie project and we are very pleased with how the program was executed and also with the assay results. Gold mineralization was significantly extended downdip and we encountered the thickest auriferous quartz vein drilled yet in hole GB-22-94. We believe gold mineralization remains open to the northwest and southwest. Additional drilling is planned for this fall after downhole Acoustic/Optical Televiewer work has been done, further advancing our understanding of vein orientation."
Gold Mineralization at Kendell Extended at Depth and Along Strike
The 2022 winter drill program at the Kendell prospect was designed to test the continuity of gold mineralization downdip to the northwest and along strike to the northeast and southwest of the previously-drilled mineralized intercepts (Figure 1). The best mineralized intercepts in the 2021 drilling program appear to follow a structure, interpreted from ground magnetics, that strikes northwest-southeast and dips gently in that direction. Gold mineralization was generally in the form of fine grains in centimetre-scale quartz veins with additional gold mineralization associated with arsenopyrite and/or stibnite in the adjacent wall rocks. Mineralized intercepts are focused in the hanging wall of a sheared black shale horizon (Figure 2).
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Figure 1 - Plan map of the Kendell prospect showing 2021 and 2022 drill collars and mineralized intercepts
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Figure 2 - Vertical section A-A' of the Kendell prospect based on 2021 and 2022 drilling (looking northeast)
The 2022 Kendell drill results successfully extended gold mineralization downdip to the northwest. Hole GB-22-92 intersected 6.1 g/t gold over 3.6 m at a downhole depth of 52.5 m, including 44.9 g/t over 0.4 m. This intercept is approximately 80 m downdip of hole GB-21-53, which intersected 12.2 g/t gold over 3.9 m, extending the total known downdip length of gold mineralization at the Kendell prospect to approximately 180 m. The best intercept in the 2022 winter drill program was in hole GB-22-94, which intersected 20.6 g/t gold over 3.5 m, including 58.2 g/t over 1.1 m in the thickest quartz vein encountered in drilling to date. Due to its gentle dip, gold mineralization remains shallow. Hole GB-22-95, which was oriented to the northwest to test downdip of hole GB-22-94, did not intersect significant mineralization. Hole GB-22-95 may not have been drilled at the optimal orientation and possibly deviated from the target horizon. The Company intends to obtain a higher precision bore hole survey of GB-22-95 during the planned Televiewer work.
Winter drilling at Kendell also extended gold mineralization along strike to the southwest. Hole GB-22-64 intersected 9.5 g/t gold over 2.0 m and hole GB-22-72 intersected 6.7 g/t gold over 6.0 m approximately 10 m southwest of previously-drilled intercepts . Gold mineralization remains open along strike to the southwest. Drilling to the northeast, approximately 10 m from previous intercepts, did not return significant gold mineralization. Downhole televiewer work is expected to provide additional information on the orientation of mineralized quartz veins, which will enhance the understanding of the mineralization and optimize the azimuth for future drilling.
A thick quartz vein encountered in hole GB-22-94 (Figure 3) suggests the potential for broader zones of high grade gold mineralization where structures opened up through progressive deformation during orogenesis.
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Figure 3 - Drill core from GB-22-94 with large quartz vein starting at downhole depth of 47.8 m (visible gold within red circles)
Gold mineralization may be related to a lithological contact between the Isle Galet formation sedimentary rocks and black shales of the Riches Island formation (Figure 4), which also corresponds with a trend of anomalous till sample and grab sample results (see news release dated May 4, 2022 ). Multiple regional faults striking northeast-southwest, parallel to the Day Cove Thrust, are believed to exist on the Golden Baie property and these regional faults may be important controlling structures for orogenic gold mineralization, as seen in other recent gold discoveries in central Newfoundland.
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Figure 4 – Plan map of the Kendell prospect area showing interpreted faults, lithologies and select gold anomalies in grab samples and till samples
Gold Association with Arsenic and Antimony
The 75 diamond drill holes completed to date at the Kendell prospect in 2021 and 2022 indicate a very strong correlation between gold mineralization and arsenic and antimony. The gold-arsenic-antimony association is a well-defined hallmark of world-class gold producers such as the Fosterville, Bendigo and Ballarat mines of the Victorian Goldfields. The Golden Baie property has numerous areas with significant arsenic and antimony anomalies based on soil geochemistry (Figure 5), which are priority areas for regional exploration. The size and extent of these anomalies, combined with multiple rock samples with anomalous gold spanning a strike length of 40 km, indicate the potential for multiple gold mineralized structures on the district-scale Golden Baie property.
Additional soil sampling is planned for multiple locations on the Golden Baie project in 2022 to infill areas that have not been sampled or have historic soil samples with only gold assay data.
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Figure 5 – Significant gold-arsenic-antimony anomalies on the Golden Baie project based on soil samples
All 2021 and 2022 drilling was of NQ-sized drill core. Core samples were split with a diamond saw and half-core retained for further study after being detail logged and photographed. 2022 drill core samples were collected by company personnel and shipped to SGS Labs, Lakefield, ON for preparation of assay pulps. Gold analysis is completed in the SGS Labs, Burnaby, BC with a 30 g fire assay and AAS finish (code GE_FAA30V5). Samples returning >1 g/t Au are re-assayed with a gravimetric finish (code GO-FAG30V). Mineralized zones with visible gold are also analyzed by a 500 g screen fire assay with screening to 106 microns (code GO-FAS30M).
Soils are dried at a secure company facility and will be processed at SGS Labs using the GE_FAM50V5 assay method for gold (1-2,000 ppb Au detection) and the GE-IMS21B20 method, an ICP-MS analysis that captures 37 elements including trace level detection of pathfinders such as, Sb and W.
Canstar's QAQC program utilizes four commercially available reference standards, blanks and duplicate samples to ensure data quality. In addition, duplicates of selected samples are being sent to a second laboratory as check assays.
Matthieu Lapointe, B.Sc., P.Geo, Vice President Exploration of Canstar, and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, is responsible for the scientific and technical data presented herein and has reviewed and approved this release.
Table 2 - Kendell prospect 2022 winter drilling assay results
Table 3 - Kendell prospect 2022 winter drilling collar locations and drill hole details
Canstar Resources has a very experienced technical team and board who are focused on new mineral discoveries in Newfoundland, Canada. Central Newfoundland has emerged as one of the most exciting gold exploration districts due to recent high-grade orogenic gold discoveries along crustal scale fault corridors. The Company's flagship Golden Baie project, comprised of 774 km 2 of claims in south-central Newfoundland, has multiple high-grade gold anomalies at surface along 40 km of strike. The Company also holds the Buchans-Mary March project and other mineral exploration properties in Newfoundland. Canstar Resources is based in Toronto, Canada, and is listed on the TSX Venture Exchange under the symbol ROX and trades on the OTCPK under the symbol CSRNF.
For further information, please contact:
Rob Bruggeman, President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W ) (the "Company") is pleased to announce the commencement of the 2022 drill program at the Betty Ford and Mascot targets on its Betty property. The Betty property is strategically located in the southern part of the Company's land package, approximately 15 km northeast of Western Copper and Gold Corporation's (TSX: WRN, NYSE: WRN) Casino porphyry deposit (Measured & Indicated Resources of 14.5 Moz gold & 7.6 Blbs copper and Inferred Resources of 6.6 Moz gold and 3.3 Blb copper (4) ) and 40 km east of Newmont Corporation's (NYSE: NEM, TSX: NGT) Coffee gold deposit (Measured & Indicated Resources of 2.14 Moz gold and Inferred Resources of 0.23 Moz gold (3) ). This drill program forms part of the Company's 2022 fully funded $6 million exploration program on its extensive and underexplored 350,000 hectare land package in the emerging White Gold District, Yukon, supported by strategic partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX: K, NYSE: KGC).
"Our 2021 maiden diamond drill program on the Betty Ford target returned one of the best holes drilled in the district, intersecting 3.46 g/t gold over 50m from near surface. We are eager to follow up on this exciting discovery to further test the extents of the broad gold zone encountered. We are also excited to commence a maiden diamond drill program at the Mascot Target that hosts three large gold mineralized zones, which we believe may be indicative of the presence of a broader gold system. Our Betty property is located in close proximity to existing large gold and copper deposits along the same fault structure. We look forward to further advancing this prospective and underexplored property," stated David D'Onofrio, Chief Executive Officer.
Maps accompanying this news release can be found at https://whitegoldcorp.ca/investors/exploration-highlights/ .
Highlights of 2022 Betty Drilling Program Include:
An overview of the planned 2022 Betty drill program, was provided in a Company News Release dated May 18, 2022. To date, the Company has completed the initial phase of diamond drilling at the Ryan's Surprise and Ulli's Ridge targets on the White Gold property, with further details provided in a Company News Release dated June 13, 2022. Once the Betty drill program is complete, the diamond drill rig will return to the White Gold property to carry out an additional phase of drilling on Ryan's Surprise. RAB drilling is planned later in the season to test targets along the Ryan's Trend, a 6.5 km long NNW gold and arsenic soil geochemical trend located approximately 2km west of the Golden Saddle and Arc deposits which also hosts the Ryan's Surprise and Ulli's discoveries. Assay results for all drill programs will be released as they become available and are interpreted by the Company.
About White Gold Corp. The Company owns a portfolio of 17,584 quartz claims across 30 properties covering approximately 350,000 hectares representing over 40% of the Yukon's emerging White Gold District. The Company's flagship White Gold property hosts the Company's Golden Saddle and Arc deposits which have a mineral resource of 1,139,900 ounces Indicated at 2.28 g/t Au and 402,100 ounces Inferred at 1.39 g/t Au ( 1) . Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. The Company's recently acquired VG Deposit also hosts an Inferred gold resource of 267,600 ounces at 1.62 g/t Au ( 2) . Regional exploration work has also produced several other new discoveries and prospective targets on the Company's claim packages which border sizable gold discoveries including the Coffee project owned by Newmont Corporation with Measured and Indicated Resources of 2.17 Moz at 1.46 g/t Au, and Inferred Resources of 0.50 Moz at 1.32 g/t Au (3) , and Western Copper and Gold Corporation's Casino project which has Measured and Indicated Resources of 14.5 Moz Au and 7.6 Blb Cu and Inferred Resources of 6.6 Moz Au and 3.3 Blb Cu (4) . For more information visit www.whitegoldcorp.ca.
(1) See White Gold Corp. technical report titled "Technical Report for the White Gold Project, Dawson Range, Yukon Canada", Effective Date May 15, 2020, Report Date July 10, 2020, prepared by Dr. Gilles Arseneau, P.Geo., and Andrew Hamilton, P.Geo., available on SEDAR. (2) See White Gold Corp. technical report titled "Technical Report for the QV Project, Yukon, Canada", Effective Date October 15, 2021, Report Date November 15, 2021, available on SEDAR. (3) See Newmont Corporation news release titled "Newmont Reports 2021 Mineral Reserves of 93 Million Gold Ounces and 65 Million Gold Equivalent Ounces", dated February 24, 2022: https://www.newmont.com/investors/news-release/default.aspx . (4) See Western Copper and Gold Corporation technical report titled "Form 43-101F1 Technical Report Preliminary Economic Assessment", Effective Date June 22, 2021, Report Date August 2, 2021 , prepared by Daniel Roth, PE, P.Eng., Mike Hester, F Aus IMM, John M. Marek, P.E., Laurie M. Tahija, MMSA-QP, Carl Schulze, P.Geo., and Daniel Friedman, P.Eng., available on SEDAR.
Qualified Person Terry Brace, P.Geo. and Vice President of Exploration for the Company is a "qualified person" as defined under National Instrument 43-101 – Standards of Disclosure of Mineral Projects and has reviewed and approved the content of this news release.
Cautionary Note Regarding Forward Looking Information This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "proposed", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company's objectives, goals and exploration activities conducted and proposed to be conducted at the Company's properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company's properties will be successful; exploration results; and future exploration plans and costs and financing availability.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: the expected benefits to the Company relating to the exploration conducted and proposed to be conducted at the White Gold properties; the receipt of all applicable regulatory approvals for the Offering; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company's properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; ongoing uncertainties relating to the COVID-19 pandemic; and those factors described under the heading "Risks Factors" in the Company's annual information form dated July 29, 2020 available on SEDAR. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
For Further Information, Please Contact:
Contact Information: David D'Onofrio Chief Executive Officer White Gold Corp. (647) 930-1880 ir@whitegoldcorp.ca
To Book a Meeting with Management: https://whitegoldcorp.ca/contact/request-information/
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dd0f98af-0213-4cf7-9d95-2296b1f4c671
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Steppe Gold Limited (TSX: STGO) (OTCQX: STPGF) ("Steppe Gold" or the "Company") is pleased to report the results of its 2022 Annual General and Special Meeting of Shareholders held on June 30, 2022 in Ulaanbaatar, Mongolia. A total of 35,544,144 common shares were voted at the meeting representing 51.10% of the votes attached to all outstanding shares.
Detailed results from the election of directors are set out below:
Complete voting results are available on SEDAR at www.sedar.com.
Kingston Ross Pasnak LLP was appointed to serve as the independent auditors of the Company for the ensuing year.
The Company's Long-Term Incentive Plan was approved and adopted.
Steppe Gold Limited. Steppe Gold (TSX: STGO, OTCQX: STPGF) is Mongolia's premier precious metals company.
For more information, please contact:
Bataa Tumur-Ochir, CEO and President
Shangri-La office, Suite 1201, Olympic Street 19A, Sukhbaatar District 1, Ulaanbaatar 14241, Mongolia Website: www.steppegold.com Email: investors@steppegold.com Tel: +976 7732 1914
Certain statements in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "projects", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Forward-looking statements are based on current expectations and Steppe Gold assumes no obligation to update such information to reflect later events or developments, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129953
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